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Exac Trac payments for Show-Me Shop orders

ePro catalog purchase orders will begin using a new payment method on October 6th, called ExacTrac. This payment option uses a virtual credit card number that the vendor will receive when orders are placed for catalog items purchased through the ePro Show-Me Shop. Cards are set with a 0% tolerance to allow the vendor to charge up to the amount of the purchase order and no more. This will insure vendors are not charging more than the contracted price set in the Show-Me Shop marketplace. Invoice/voucher processing by Accounts Payable will no longer be necessary!

We will begin utilizing this option with Fisher Scientific. The remaining ePro catalog vendors will be added after a few weeks of piloting with Fisher. We should have all ePro vendors added to this process by the end of calendar year 2008. Notifications will be added to the Show-Me Shop as each vendor is added. Catalog orders sent to vendors before they have been added to this process will continue to be paid through the traditional invoice/voucher method.

For more details on ExacTrac, including how the charges will appear on your income statement, visit the Procurement Show-Me Shop Web site at: http://www.umsystem.edu/showmeshop.

Reviewed 2016-06-14.

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